MRF on a roll after strong Q3 earnings

MRF surged 6.01% to Rs 14,645 at 14:18 IST on BSE after net profit surged 57.22% to Rs 227.28 crore on 1.59% growth in total income to Rs 3060.04 crore in Q3 June 2013 over Q3 June 2012.

The Q3 result was announced during trading hours today, 25 July 2013.

Meanwhile, the S&P BSE Sensex was down 197.86 points or 0.98% at 19,892.82.

The stock surged on high volumes. On BSE, 12,532 shares were traded in the counter as against average daily volume of 4,119 shares in the past one quarter.

The stock hit a high of Rs 14,650 and a low of Rs 13,642.85 so far during the day. The stock had hit a record high of Rs 15,499.80 on 22 May 2013. The stock had hit a 52-week low of Rs 9,555.65 on 31 July 2012.

The stock had outperformed the market over the past one month till 24 July 2013, surging 11.98% compared with the Sensex's 8.36% jump. The scrip had, however, underperformed the market in the past one quarter, declining 0.03% as against Sensex's 4.75% rise.

The mid-cap company has equity capital of Rs 4.24 crore. Face value per share is Rs 10.

MRF's board of directors at a meeting held today, 25 July 2013, approved the payment of interim dividend of Rs 3 per share for the year ending 30 September 2013.

MRF manufactures the largest range of tyres in India and exports to over 65 countries worldwide.

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